Category: Daily Financial Times

Doctors Without Borders/Médecins Sans Frontières (MSF) continues its humanitarian response to the devastating floods and landslides caused by Cyclone Ditwah, which has affected over 1.8 million people across Sri Lanka. MSF is working closely with local partners to address urgent needs in hygiene, shelter, and healthcare.

MSF has delivered 1,000 winterised family tents and 1,500 heavy-duty plastic sheets to the Disaster Management Centre on 14 December. These tents are specially designed to provide safe, warm, and durable shelter for displaced families, particularly in colder regions. The tents will help protect vulnerable populations from exposure to harsh weather conditions and reduce the risk of illness.

MSF in Sri Lanka Emergency Coordinator David Croft said, ‘Providing these winterised tents is a critical step in ensuring displaced families have access to safe and adequate shelter during this challenging time. Our teams remain committed to working alongside local partners to adapt our response as the situation evolves and to support the recovery efforts in Sri Lanka.’

Additionally, MSF has distributed 500 relief kits and 500 dry ration kits to support families displaced by the floods. MSF is preparing to distribute 250 maternity kits and 400 dignity kits to ensure safe maternal care and maintain dignity in emergency shelters.

MSF’s approach emphasises collaboration with locally led organisations and the Disaster Management Centre to ensure aid reaches those most in need efficiently and effectively.

The Indian rupee (INR) fell to a record low on yesterday against the US dollar, as uncertainty looms over the India-US trade deal after several rounds of negotiation between both sides and sustained outflow of foreign capital.

The INR slipped 0.2% to touch an all-time low of 90.71 against the greenback, on Monday surpassing the previous record of 90.49 on Friday. However, the decline continued into Tuesday.

LAUGFS Rubber, a subsidiary of LAUGFS Holdings, has been recognised with the Silver Award in the Rubber Industry sector under the large category at the National Cleaner Production Awards (NCPC) 2025, which stands as the highest recognition awarded within the sector this year. This prestigious national honour reaffirms the company’s leadership in sustainable and environmentally responsible manufacturing in Sri Lanka, underscoring its ongoing commitment to minimising environmental impact, enhancing operational efficiency, and promoting cleaner production practices across the industry.

This honour reflects LAUGFS Rubber’s unwavering commitment to driving resource-efficient operations at its Horana manufacturing facility, where eco-friendly processes, continuous resource tracking, and energy-saving initiatives have been embedded to meet evolving sustainability standards.

LAUGFS Rubber Director – Chief Executive Officer Chinthaka Wegapitiya said, ‘We are truly honoured to receive the Silver Award at the NCPC Awards 2025. This recognition strengthens our commitment to sustainability and responsible manufacturing. At LAUGFS Rubber, we remain dedicated to innovating and improving our environmental performance, ensuring that our operations contribute positively to both the industry and the nation’s sustainability goals.’

This accolade further reinforces LAUGFS Rubber’s continued contribution to a greener and more sustainable industrial future for Sri Lanka. LAUGFS Rubber specialises in the production of high-quality industrial tyres, serving customers in over 50 countries worldwide, with subsidiaries in the United States (LAUGFS USA LLC) and Europe (LAUGFS Europe B.V), establishing a strong international presence. Its state-of-the-art manufacturing facility operates with a deep commitment to innovation, quality, and sustainability. The company’s commitment to environmentally responsible manufacturing and employee health and safety is further demonstrated by its globally recognised certifications, including ISO 9001:2015, ISO 50001:2018, ISO 14001:2015, and ISO 45001:2018.

Ambidextrous 17-year-old spinner Shashini Gimhani has been named in Sri Lanka women’s 15-member squad for the five-match WT20I series in India later this month.

Gimhani, who delivers wrist spin with either arms is one of several changes that has taken place with Sri Lanka naming a young squad for the upcoming series. Kawya Kavindi, the 23-year-old seamer, 19-year-old seamer Rashmika Sewwandi and uncapped 26-year-old left-arm spinner Nimasha Madushani also make it into the squad which has no place for seniors like wicketkeeper-batter Anushka Sanjeewani (35), who has played 86 WT20Is, Udeshika Prabodhani (40) 106 WT20Is, Sugandika Kumari (34) 88 WT20Is and Achini Kulasuriya (35) 40 WT20Is, who had all been part of the squad for the team’s most recent T20I assignment, the tour of New Zealand in March this year.

Chamari Athapaththu leads the side and has some experienced hands in her ranks for the series like spinner Inoka Ranaweera, 39, alongside a top order that has now had significant exposure at the top level. There is a drive within the squad to blood younger players as the team builds towards next year’s T20 World Cup in England.

Hasini Perera, Vishmi Gunaratne, Harshitha Samarawickrama, Nilakshika de Silva, and Kavisha Dilhari – all of whom played significant roles in the recent ODI World Cup – are in this squad. Kaushini Nuthyangana is likely to take the gloves in Sanjeewani’s absence.

The five-match T20I series begins in Visakhapatnam on 21 December, before moving to Thiruvananthapuram for the last two games.

SRI LANKA WOMEN’S T20I SQUAD

Chamari Athapaththu (Captain), Hasini Perera, Vishmi Gunaratne, Harshitha Samarawickrama (Vice-Captain), Nilakshika de Silva, Kavisha Dilhari. Imesha Dulani, Kaushini Nuthyangana, Malsha Shehani, Inoka Ranaweera, Shashini Gimhani, Nimesha Madushani, Kawya Kavindi, Rashmika Sewwandi, Malki Madara

Sri Lanka Cricket yesterday declared open a new Indoor Training Complex at the National High Performance Center, marking the completion of another key facility at the country’s Elite Training Centre of Cricket.

The state-of-the-art, seven-wicket indoor facility has been built to international standards and comprises two wickets dedicated to Spin bowling, two wickets for Fast bowling, and three general-purpose wickets.

Designed to facilitate uninterrupted training under varying climatic conditions, the facility will serve players representing the National Men’s and Women’s Teams, ‘A’ Teams, and Emerging Teams, as well as the Under-19, Under-17, and Under-15 national squads.

The complex was formally declared open by Sports and Youth Affairs Minister Sunil Kumara Gamage, in the presence of Deputy Minister of Sports Sugath Thilakaratne, at the invitation of Sri Lanka Cricket President Shammi Silva.

The office bearers and members of the Executive Committee of Sri Lanka Cricket were also present at the ceremony, alongside national men’s and women’s cricketers.

The addition of the indoor training facility represents another significant milestone in strengthening Sri Lanka Cricket’s Elite Training Center, further reinforcing its status as a world-class high-performance facility dedicated to producing elite athletes.

Housed at the R. Premadasa International Cricket Stadium (RPICS), Colombo, the National High Performance Centre also features an international-standard ground, Outdoor Practice Facilities, a gymnasium, a state-of-the-art eight-lane swimming pool, the Brain Centre for advanced match analysis, and a comprehensive physiotherapy and rehabilitation unit, among several other essential support structures.

The opening of the facility comes at a crucial juncture, as Sri Lanka prepares for a demanding international calendar in 2026. This includes tours by Pakistan and England in January, followed by the ICC Men’s T20 World Cup, which will be co-hosted by Sri Lanka and India.

IQ Global, a leading Sri Lankan-based Digital, Tech, and Business Design solutions provider, and global data-driven marketing powerhouse Fonia, have announced a landmark partnership to introduce Fonia Digital-a cutting-edge AI-powered advertising tool-to the Sri Lankan market, effective (date here).

This strategic alliance is set to fundamentally change how Sri Lankan brands connect with their consumers, delivering unprecedented accuracy and efficiency in mobile marketing and bringing a truly global tool to the island for the first time.

This partnership marks the first time such an advanced global advertising technology is being introduced for the exclusive benefit of Sri Lankan brands. Fonia Digital empowers local enterprises to transcend traditional targeting limitations and reach a more accurate, in-the-moment audience, ensuring marketing budgets are spent effectively and driving a new era of high-ROI advertising.

Since 2014, Innovation Quotient (IQ Global), a brand transformation powerhouse, has bridged the gap between human insight, bold creativity, and technical capability with human-centric solutions. With this partnership, the company takes a major step toward pioneering AI-driven display advertising in Sri Lanka, setting a new benchmark for data-led marketing precision. By introducing AI-driven display technology to the Sri Lankan market for the first time, IQ Global is not just offering a new solution, but ushering in a new era of data-led marketing precision.

IQ Global Chief Commercial Officer Shafras Faleel said: ‘Our mission at IQ Global has always been to drive inclusive digital transformation by introducing world-class tools to the local ecosystem. Partnering with Fonia allows us to offer a revolutionary AI platform that goes beyond generic targeting empowering Sri Lankan brands to achieve measurable ROI and engage customers at the perfect moment. This is a game-changer for the Sri Lankan advertising industry.’

Fonia Group, through its digital marketing arm Fonia Digital, specialises in executing AI-powered advertising campaigns based on Big Data insights from millions of users worldwide. The platform integrates online and offline behavioral data with advanced AI algorithms to deliver real-time, multi-DSP (Demand-Side Platform) bidding that maximises precision and cost efficiency.

Fonia Group Co-CEO Avi Magdid said: ‘The ability to accurately predict consumer intent and deliver personalised advertisements in real-time is the future of marketing. We are excited to partner with IQ Global, who share our vision for digital innovation, to bring the power of Fonia Digital’s AI and Big Data insights to brands in Sri Lanka. This partnership is about enabling hyper-precision targeting and efficiency in a market eager for modern, data-driven solutions.’

Fonia Digital also guarantees brand safety through strict verification controls, ensuring that every message is delivered in trusted, high-impact environments across mobile web and in-app platforms.

Together, IQ Global and Fonia are setting a new standard for smart, data-driven marketing in Sri Lanka, empowering local brands to reach the right audience, at the right time, with precision and confidence and world-class ROI.

The National Chamber of Commerce of Sri Lanka (NCCSL) has hosted a Japanese business delegation, headed by Leader of the Delegation Akashi Yasuo, on 12 December 2025, for a focused discussion aimed at strengthening bilateral economic cooperation, particularly in key development sectors.

The delegation featured senior representatives from several Japanese industries, including construction, ceramics, apparel, and large-scale manufacturing (petroleum-related vehicles and tanks). The visit underscored the interest from Japan’s corporate sector, with several delegates exploring immediate investment opportunities and strategic partnerships with local Sri Lankan enterprises.

To maximise the potential for successful deals, NCCSL convened an exclusive B2B session. This facilitated direct dialogue and networking between the Japanese delegation and participants. The presence of the President of the National Chamber, Executive Committee and the council members assured high-level engagement with the delegates and reinforced the Chamber’s commitment to the emerging partnerships.

Discussions focused on identifying potential avenues for joint ventures, technology transfer, and long-term collaborations. These partnerships are strategically aligned with Sri Lanka’s national development priorities, specifically targeting high-end tourism infrastructure and advanced manufacturing.

The NCCSL reaffirms its commitment to serving as the foremost platform connecting Sri Lankan businesses with credible global partners, driving international trade linkages, and facilitating essential foreign investment.

The Central Bank of Sri Lanka (CBSL) conducted the International Research Symposium – 2025 during 08-10 December under the theme of ‘Stability for Prosperity’ at the CBSL John Exter International Conference Hall, to mark the 75th Anniversary of the CBSL.

The symposium, organised by the Economic Research Department of the CBSL, comprised the following three research events that reflected the CBSL’s commitment to enhancing economic research and evidence-based policymaking1:

14th CBSL International Research Conference (CBSL IRC)

The SAARCFINANCE Database Seminar 2025 (SF Database Seminar)

6th Joint Workshop co-hosted by the CBSL in collaboration with the Asian Development Bank and the Asia-Pacific Applied Economics Association (CBSL-ADB-APAEA Conference)

Under this Research Symposium, the CBSL held its flagship research event, the 14th IRC, on 8 December. The Conference aimed at stimulating innovative theoretical and empirical research on various contemporary macroeconomic policy issues.

Delivering the inaugural address at this event, CBSL Governor Dr. Nandalal Weerasinghe, highlighted the multidimensional risks faced by small open economies, including geo-economic fragmentation, rapidly evolving trade and financial patterns, and climate risks that amplify economic vulnerabilities. In this context, the Governor stressed the importance of research-driven policymaking2.

Reserve Bank of India Former Deputy Governor Dr. Michael D. Patra, delivered the keynote address at the IRC. In his speech, titled ‘Emerging Economies: Securing Stability Amidst Uncertain Times’, Dr. Patra discussed the global trends, such as geopolitical uncertainties, economic and trade policy uncertainties, supply chain pressures, and financial market spill overs that threaten the economic stability of countries. He also underscored the need for emerging economies to forge pathways to hedge against these significant uncertainties by improving policy frameworks, identifying drivers of productivity and growth, strengthening economic buffers, pursuing climate harmony, and leveraging emerging technologies to safeguard long-term resilience.

The inaugural session of the IRC was followed by two technical sessions chaired by CBSL Senior Deputy Governor Nelumani Daulagala and Deputy Governor Dr. Chandranath Amarasekara. Eight research papers in the areas of inflation forecasting, capital flows, credit dynamics, financial risks, sustainable development, financial inclusion and productivity, which were selected through a rigorous double-blind evaluation process from a large number of submissions, were presented by the local and international researchers. Alongside the Conference, the CBSL published the latest volume of its flagship research journal, Staff Studies3.

On the second day of the Symposium, the CBSL hosted the SF Database Seminar. Sri Lanka held the Chairmanship of the SAARCFINANCE Network in 2024. It is customary for the country that held the SAARCFINANCE Chairmanship in a particular year to host the Database Seminar in the subsequent year. Accordingly, the CBSL hosted the SF Database Seminar in 2025, with delegates from SAARC central banks participating both in person and virtually.

Delivering the keynote address during the inaugural session of the Seminar, Dr. Chandranath Amarasekara highlighted the importance of data and its effective use in achieving macroeconomic policy goals. He also pointed out that SAARCFINANCE Database can serve as a vital anchor in supporting the data-driven processes of the SAARC central banks, thereby strengthening regional stability.

The Seminar featured two technical sessions chaired by CBSL Economic Research Director Dr. Sujeetha Jegajeevan, and Additional Director of Economic Research Dr. Vipula Wickramarachchi. Seven insightful country papers were presented by representatives from Bangladesh Bank, Royal Monetary Authority of Bhutan, Reserve Bank of India, Maldives Monetary Authority, Nepal Rastra Bank, State Bank of Pakistan, and the Central Bank of Sri Lanka. These papers offered policy experiences and practical insights on addressing macroeconomic instabilities caused by external and domestic headwinds across the region as well as the use of novel techniques for policy making.

SAARCFINANCE Nodal Officers’ Meeting was conducted on the sidelines of the Database Seminar. Recent developments and roadmap for the forthcoming year in relation to the database were discussed at this meeting.

The final event under the Symposium was the 6th CBSL-ADB-APAEA Joint Workshop held on 10 December 2025.

Inaugurating the CBSL-ADB-APAEA Conference, CBSL Governor Dr. Nandalal Weerasinghe emphasised that the central banks must upgrade their analytical capabilities continuously and adopt evidence-based policymaking amid rapid global economic changes and technological advancements. He also emphasised the importance of establishing a collaborative research network among the policy practitioners and academia. Further, APAEA Founder and President Prof. Paresh Narayan and ADB Principal Economist Dr. John Beirne also underscored the importance of sustaining research collaboration between institutions and the critical role of research in informed policy making.

The workshop comprised two technical sessions featuring eight research paper presentations by authors from the CBSL, ADB and APAEA, covering contemporary areas such as credit cycles, inflation, capital flows, nowcasting of economic growth, climate shocks, fiscal rules and asset pricing models These sessions were chaired by CBSL Additional Director of the Economic Research Department Dr. Lasitha Pathberiya, and Dr. John Beirne.

The Inland Revenue Department (IRD) has said the implementation of the new tax invoice format and specifications for Value Added Tax (VAT) registered persons has been deferred to 1 April 2026.

The revised timeline follows requests from a large number of VAT registered persons, the IRD said in an official notice issued by the Commissioner General of Inland Revenue.

Under the original order published in Extraordinary Gazette Notification No. 2463/05 dated 17 November 2025, the new tax invoice format was due to come into effect from 1 January 2026.

The IRD said an amendment to the relevant Gazette Notification will be issued in due course to give effect to the revised implementation date.

Marking its 25th anniversary this year, HNB Finance PLC, organised a series of multi-faith religious programs to invoke blessings for the company, its employees, customers, and stakeholders as it celebrates this significant milestone its journey of financial inclusion and community empowerment spanning over two and a half decades.

The Buddhist and Christian observances of the multi-religious program were held at the HNB Finance Head Office premises in Nawala. The Buddhist ceremony commenced with an all-night Pirith chanting session, followed by an almsgiving (Sanghika Dana) offered the next day to 25 members of the Maha Sangha. This meritorious event was organised under the guidance of Ven. Kalankuttiye Soratha Thero, Chief Incumbent of the Nawala Wickramasingharama Viharaya. In line with the 25th anniversary celebrations, the Christian service was conducted by Rev. Fr. Prasad Harshana from St. Aloysius Church,

Colombo 08.

The event was attended by HNB Finance PLC Managing Director and Chief Executive Officer Chaminda Prabhath, Deputy Chief Executive Officer Maduranga Heenkenda, members of the senior management team, as well as staff from the Head Office and other branches.

The Hindu religious ceremony of the multi-faith program was held at the Aanaipanthy Sri Siththi Vigneshwara Hindu Kovil in Batticaloa, under the guidance of Balasivaramana Poojagar. The event was attended by a large gathering, including Deputy General Manager – Human Resources, Ruwan Fernando, officials from the Head Office, and employees and customers from the HNB Finance branches operating across the Northern and Eastern regions, including Batticaloa and Kalmunai.

HNB Finance PLC Managing Director and Chief Executive Officer Chaminda Prabhath, stated: ‘Over the past 25 years, HNB Finance has proudly transformed the landscape of Sri Lanka’s financial services sector. From our humble beginnings, we have continuously evolved by understanding and addressing the unique needs of our customers, becoming one of the most trusted and forward-thinking financial institutions in the country.

Despite operating through some of the most challenging periods in recent history, we have successfully maintained profitability, protected livelihoods, and strengthened customer relationships through resilience, innovation, and unwavering commitment.

Our greatest strength has always been our people,the dedicated employees who form the backbone of this organisation, and the loyal customers who have stood by us with trust and confidence over the decades. Their contribution in elevating the HNB Finance name to where it stands today is truly commendable.

I extend my heartfelt gratitude to both these groups and look forward to their continued blessings and support as we move ahead with renewed purpose and strength into the next phase of our journey.’

With a strong nationwide branch network, a loyal customer base, and a reputation for transparency and trust, HNB Finance continues to play a pivotal role in advancing financial inclusion and community development in Sri Lanka. The 25th anniversary celebrations not only mark a proud milestone in the company’s legacy but also reaffirm its enduring commitment to uplifting the lives of people across the nation.